1. Ulysses and Penelope are married and file separate returns for 2016. Penelope itemizes her deductions on her return. Ulysses' adjusted gross income was $17,400, his itemized deductions were $2,250 and he is entitled to one exemption. Calculate Ulysses' income tax liability assuming the couple does not live in community property state (you will need to use the tax table 2017):
2.Jonathan is a 35-year-old single taxpayer with adjusted gross income of $46,300. He uses the standard deduction and has no dependents.
Calculate Jonathon's taxable income. Please show your work.
When you calculate Jonathon's tax liability are you required to use the tax tables or the tax rate schedules, or does it matter?
What is Jonathon's tax liability?
3. Christine is a single 50-year-old taxpayer with no dependents. Her only income is $40,750 of wages. Calculate her taxable income and her tax liability. Please show your work.
4. Determine from the tax table in Appendix A the amount of the income tax for each of the following taxpayers for 2015:
|
Taxpayer
|
Filing Status
|
Taxable Income
|
Income Tax
|
|
Allen
|
Single
|
$21,000
|
|
|
Boyd
|
MFS
|
$25,545
|
|
|
Caldwell
|
MFJ
|
$35,784
|
|
|
Dell
|
Head of Household
|
$27,450
|
|
|
Evans
|
Single
|
$45,000
|
|